BitCoin long-term crypto forecast September 2019
05 Sep 2019
You may be wondering how to trade BitCoin cryptocurrency and similar crypt currencies. There are countless cryptocurrency strategies you can use to trade BitCoin for profit. However, you must be aware of a very important characteristic of the cryptocurrency market, it follows supply and demand as any other financial market, and cryptocurrencies and crypto trading are not exceptions.
Pools of supply and demand imbalances are created in all BitCoin timeframes. You must know what these imbalances look like and what they mean before you decide to take a trade on BitCoin. The BitCoin technical analysis video below does a long-term analysis of the monthly timeframe. Intraday and shorter-term positions are not explained. Those are different monsters.
As per the monthly chart, BitCoin cryptocurrency created a very strong demand imbalance of around $4,722 last October 2018. It took a year for the price to retrace to that imbalance, but when it did, the price reacted to it very strongly. Our BitCoin prediction was correct with laser beam accuracy when we spoke about that monthly demand level a few months ago. Those following us in the supply and demand trading community could take advantage of this long-term analysis and position on BitCoin cryptocurrency.
BitCoin cryptocurrency supply and demand technical analysis for 2019
BitCoin has been rallying from that monthly demand level since last January 2019, recreating a very similar price action to October 2018, where the demand level on the monthly timeframe originated. Supply and demand strategy principles are very clear and to the point about impulses. After a strong impulse (bullish or bearish), we should not think of trading in the same direction. In BitCoin monthly chart, we can see a very strong bullish impulse and strong signs of rejection for the last two months, July and August 2019.
In the previous impulse, when BitCoin’s price was trading at around $20,000, all the media and news were talking about BitCoin; buy BitCoin, it’s the currency of the future. Wait for a second! All the media was telling you to buy BitCoin at $20,000 after such a strong rally? Come on! You should be thinking of selling BitCoin crypto for profit, no more buying. We expected the price to drop heavily as it did. Bitcoin is in a similar scenario right now. We should be thinking of buying BitCoin long term because we are expecting a much bigger correction.
BitCoin cryptocurrency forecast and prediction 2019
Our supply and demand forecast and prediction for BitCoin cryptocurrency is explained in this analysis and also in the video technical analysis below. If you are a short-term trader or scalping BitCoin for profit, then it’s a different story and analysis. For long-term positions, now it’s not the type to buy BitCoin cryptocurrency.
Join our trading course if you want to learn how to trade BitCoin and other Crypto Currencies using our proprietary supply and demand strategy. You will be welcome to join our trading community.
Watch BitCoin cryptocurrency video technical analysis below
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